Atom bank, the app-based bank, is offering its range of commercial mortgages with fixed rates from 5.75%.
The range includes Business Banking Secured Loans (BBLS) and Recovery Loan Scheme (RLS) products.
BBLS fixed rates are available with commitment terms from 2 to 7 years, with rates starting from 5.75% up to 45% LTV. Up to 60% LTV, fixed rates are available from 6.15% and up to 75% LTV, fixed rates start at 6.56%.
A range of RLS products are also available for fixed rates of between 2 and 6 years.
Atom bank is offering commercial mortgages up to 75% LTV for loan sizes up to £1m, and up to 70% LTV for loans larger than £1m.
The bank has also made transformative changes to its commercial underwriting process, including changes to lending policy, internal and external systems and ways of working to increase origination capacity and has reduced application-to-offer time by, on average, 42%.
Atom head of business lending Tom Renwick at Atom bank commented:”We know that price is often the most important factor for brokers and their clients when seeking a commercial mortgage. Thanks to our efficient, digital model and bespoke pricing, we can offer some of the most competitive rates on the market as part of our ongoing support for UK business owners”.
He added “Our service is improving all the time too as we partner cutting-edge technology with genuine industry experts. Important changes over the course of the last year mean that our current application to agreement in principle time is just one working day, so business owners and their brokers can benefit from certainty of decision as well as these great prices.”
